What do you wish you would have known or done when starting your first business?
Answered by:
The most important factor in ANY business is sales. Without it, you fail.
Now, while that is the most important factor, here are 5 additional words of wisdom i'd tell a younger version of myself.
1 — Nothing happens in the time planned, that doesn't mean you should give up
2 — Personally follow-up, do not outsource this
3 — Delegate the repeatable but do not give away your vision
4 — Stay hungry, stay humble. You can lose success 10x times faster than gained
5 — Reputation is built over a lifetime of good actions but can be lost with ONE bad action
Above all, keep learning, keep experimenting, surround yourself with those you plan to be and don't get discouraged. The first 36 months can and will be challenging, with a proper plan, vision and ACTION any business can thrive.
Lastly, re-invest your profit back into the business. Pay your people first and don't take todays profit for yourself (live comfortably, not lavish) because you will hinder your longterm growth.
1 — Nothing happens in the time planned, that doesn't mean you should give up
2 — Personally follow-up, do not outsource this
3 — Delegate the repeatable but do not give away your vision
4 — Stay hungry, stay humble. You can lose success 10x times faster than gained
5 — Reputation is built over a lifetime of good actions but can be lost with ONE bad action
Above all, keep learning, keep experimenting, surround yourself with those you plan to be and don't get discouraged. The first 36 months can and will be challenging, with a proper plan, vision and ACTION any business can thrive.
Lastly, re-invest your profit back into the business. Pay your people first and don't take todays profit for yourself (live comfortably, not lavish) because you will hinder your longterm growth.
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